906: How to Become a Millionaire Through Real Estate Investing (Beginners!)

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 4 March 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Learn how to become a millionaire with real estate EVEN in 2024. You’re trying to make big wealth-building moves this year, but how do you reach seven figures without any real estate experience? Thankfully, you don’t need to be an investing expert or property-picking genius to make a millionaire dollars in real estate—you just need to follow the basic steps almost any real estate millionaire follows. So, how do you get started? We’re going to show you in today’s episode! It should be no surprise that our two hosts, David Greene and Rob Abasolo, are real estate millionaires and have been for years. After grinding away and buying multiple properties, both David and Rob realized, almost accidentally, that they had million-dollar net worths. What they did to get there wasn’t high risk, didn’t take a whole lot of time, and is easily repeatable by any real estate investor EVEN in 2024. So, today, our millionaire hosts will show you exactly what they did to make a million dollars, the easiest ways to get started in real estate today so you can begin building wealth, the strategies anyone can use to make tens if not hundreds of thousands of dollars in equity, and what you can do NOW even if you NO cash to invest. In This Episode We Cover: How to become a millionaire (even in 2024) through real estate investing What a millionaire actually is, and why so many people get this calculation wrong The beginner strategies ANYONE can use to become a millionaire in today’s economy Whether or not a million dollars is even enough to be considered “wealthy” in 2024 The two most powerful investing levers you can pull to become a millionaire faster How long it will take to make a million dollars, and the FIRST STEP you should focus on And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube BiggerPockets' Instagram Start Connecting with Other Investors in The BiggerPockets Forums The Millionaire Formula: 10 Steps to Hit 7-Figure Net Worth Top 10 Tax Advantages of Investing in Real Estate Books Mentioned in this Show: BRRRR by David Greene The House Hacking Strategy by Craig Curelop Pillars of Wealth by David Greene Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-906 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the Bigger Pockets Podcast.
0:02.0	Show 906.
0:05.0	What's going on everyone?
0:06.0	This is David Green, your host of the BiggerPockets Real Estate Podcast.
0:10.0	Joined today by the Amazing, the Mysterious mysterious the elusive Rob Abisolo Rob how's it going today?
0:15.8	I'm doing well and I'm really excited because I remember listening to an episode that
0:19.6	you and Brandon Turner did a long time ago about how to become a real estate millionaire in full circle moment for me.
0:25.9	We're doing this again and I'm excited to share our stories.
0:28.8	So I'm going to lead us in here man and I want to ask you, when did you realize that you became a millionaire?
0:33.2	I was about 30 years old and I had never calculated my net worth.
0:37.4	I was in go abundance and the elders in go abundance were teaching us about tracking
0:41.9	your goals and your net worth is something to
0:43.7	track and I ran the numbers and thought I'm well over a millionaire I was worth like
0:48.6	1.6 million dollars and I started to realize I've been a millionaire for a long time and I had no idea like I was just walking through the mall in San Francisco
0:58.2	I was actually working as a police officer, but I was patrolling that area and just thinking I'm a millionaire. I'm a
1:04.8	millionaire. How long have I been a millionaire? It was a surreal moment and the
1:10.0	reason I had no idea is because my my equity, my energy was trapped in real estate and I had only
1:16.0	been looking at the cash flow. I hadn't been looking at all the other benefits that real estate brings.
1:20.1	Wow, that's very similar to me if you can imagine. I actually always say I accidentally became a millionaire because I remember for me I was filling up my truck in Los Angeles. It was an evening and my friend and friend and I were talking about what it takes to be a
1:37.0	millionaire and I was so perplexed at the concept because I didn't have a lot of
1:41.0	money really this is like I think the big misconception I didn't have a lot of money. Really, this is like I think the big misconception.
1:44.2	I didn't have that much money in my bank account,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.